Howard Capital Management LLC bought a new stake in Amcor PLC (NYSE:AMCR – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 148,131 shares of the company’s stock, valued at approximately $6,201,000.
Other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Amcor by 55.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,307,985 shares of the company’s stock worth $10,909,000 after buying an additional 467,065 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Amcor by 219.4% in the second quarter. Concurrent Investment Advisors LLC now owns 64,241 shares of the company’s stock valued at $2,785,000 after acquiring an additional 44,125 shares during the period. Silicon Valley Capital Partners grew its stake in shares of Amcor by 27.0% in the second quarter. Silicon Valley Capital Partners now owns 237,654 shares of the company’s stock worth $10,302,000 after acquiring an additional 50,510 shares during the last quarter. Citizens National Bank Trust Department acquired a new stake in shares of Amcor in the first quarter worth $1,251,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Amcor in the first quarter worth $8,388,000. 45.14% of the stock is owned by institutional investors.
Amcor Stock Performance
AMCR traded up $0.03 during trading on Friday, reaching $43.77. 3,425,243 shares of the company’s stock were exchanged, compared to its average volume of 3,136,535. Amcor PLC has a fifty-two week low of $36.25 and a fifty-two week high of $50.94. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 1.17. The business has a 50 day moving average price of $44.16 and a 200 day moving average price of $42.25. The company has a market capitalization of $20.24 billion, a P/E ratio of 18.54, a PEG ratio of 2.71 and a beta of 0.58.
Amcor (NYSE:AMCR – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.04. Amcor had a net margin of 4.71% and a return on equity of 15.92%. The firm had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, analysts predict that Amcor PLC will post 1.84 earnings per share for the current fiscal year.
Amcor Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Friday, September 4th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Friday, September 4th. Amcor’s payout ratio is 110.17%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on AMCR shares. BMO Capital Markets assumed coverage on shares of Amcor in a research report on Thursday, July 16th. They set a “market perform” rating and a $47.00 target price on the stock. Truist Financial set a $51.00 price target on shares of Amcor in a report on Tuesday, August 18th. UBS Group initiated coverage on shares of Amcor in a research report on Tuesday, August 11th. They issued a “buy” rating and a $56.00 price target on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $47.00 price objective (up from $44.00) on shares of Amcor in a report on Monday, August 17th. Finally, Bank of America upped their price objective on shares of Amcor from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.36.
View Our Latest Stock Report on Amcor
Amcor Profile
Amcor plc (NYSE: AMCR) is a global packaging company that develops and produces packaging for food, beverages, pharmaceutical and medical products, personal care items, household goods and other consumer and industrial applications. Its portfolio includes flexible packaging, rigid containers, films, laminates, bags, bottles, closures, cartons and specialty packaging solutions.
The company works with brand owners and manufacturers to design packaging that supports product protection, shelf life, convenience and presentation.
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